A partnership can opt out of the centralized partnership audit regime for various reasons, including size of the partnership and how and to whom it distributes Schedule K-1 partnership forms for tax ...

Did you file your taxes? If you owe the IRS, here's what to expect—from penalties and liens to payment plans and appeal ...

First and foremost, file your tax return as soon as possible, even if you can’t afford to pay the full amount you owe. Why?

Still haven't filed your 2024 taxes? Here are the key questions to ask a tax pro before you make any other moves.

Still dealing with unpaid taxes? Here's what to know about pursuing tax relief now that the deadline has passed.

The IRS offers first-time penalty abatement if you've been compliant in past years. You may also be eligible for reasonable cause relief if you've experienced illness, financial hardship or other ...

Penalty abatement: In some cases, the IRS will remove or reduce penalties, though this is often limited to those facing this issue for the first time or those who can show reasonable cause ...

Penalty relief may help reduce what you owe. The IRS automatically applies failure-to-file and failure-to-pay penalties to late tax returns and unpaid balances. These penalties can grow quickly ...

If you're dealing with unpaid IRS tax debt, a tax relief program could help you tackle the issue and get your finances back on track. / Credit: Getty Images ...

Both first-time penalty abatement and a reasonable cause penalty abatement require you to provide proof of financial difficulty in order for your request to be accepted. » MORE: Pros and cons of ...